One of the most important
of them, all is using property management platforms to do the heavy lifting for
you and help you with all your property management needs.
That’s because to create
significant wealth, investors not only need to be strategic with their property
purchases, they also need to hold for the long-term.
Not having fixed-term leases
Having a tenancy agreement
in place guarantees your income for the next six or 12 months, while periodic
leases mean the tenants can move out with very little notice.
A good practice will ensure that your lease never expires at
a time when it’s difficult to relet your property.
For example, never have a
lease end in December or January (Christmas holiday period) or even at Easter
These times of the year are very hard to rent properties. There is nothing
wrong with getting a tenant to sign a 13 or 14-month lease, so their lease
doesn’t expire over these times
Keep tuned for your
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Wednesday, 15 July 2020